Netflix opts not to match Paramount offer for Warner
Netflix will not raise its offer to buy Warner Bros Discovery in a stunning move that effectively puts Paramount Skydance in a position to take over the Hollywood giant.
After Warner’s board announced Skydance-owned Paramount’s offer was superior to the agreement it had previously struck with Netflix, the streaming giant said the new price required to buy Warner would make it a deal that is “no longer financially attractive.”
Unlike Netflix’s bid, Paramount wants all of Warner’s operations, including networks like CNN and Discovery.